- Coinbase filed a lawsuit against the US SEC and FDIC in a district court in Washington.
- Coinbase alleged that the agencies failed to comply with FOIA.
- Coinbase's suit follows Consensys' earlier lawsuit against the SEC over its position on Ethereum 2.0 and MetaMask wallet.
Coinbase filed a lawsuit on Thursday in the Washington, DC District Court against the US Securities and Exchange Commission (SEC) and Federal Deposit Insurance Corporation (FDIC), claiming that both regulators have refused to release information concerning crypto regulations.
Coinbase demands US regulators' accountability, files lawsuits
Crypto exchange Coinbase went on the offensive on Thursday following its lawsuits against the US SEC and FDIC.
The lawsuits, filed in a district court in Washington DC, alleged that both regulators have refused to provide key information requested by the exchange.
Coinbase said it requested information, in line with the Freedom Of Information Act (FOIA), concerning some actions the SEC and FDIC took.
FOIA is an act that gives an individual or organization the right to access government information freely. Coinbase’s lawsuits alleged that the exchange sent requests to both regulators and has yet to receive replies for over a year.
"Today we filed lawsuits under the Freedom of Information Act for requests we made over a year ago seeking important information to which we, and the public, are entitled," said Coinbase Chief Legal Officer Paul Grewal.
The exchange requested the SEC provide clear information regarding several investigations it had made beginning in 2018. These investigations include Ethereum 2.0, which the SEC dropped earlier in the month.
Consensys had earlier filed a lawsuit against the SEC, claiming the agency attempted an "unlawful power grab over Ethereum" and stating its MetaMask isn't a securities or broker platform.
Coinbase also requested the FDIC reveal the letters it sent to banks and financial institutions to pause crypto-related transactions indefinitely.
Claiming that both regulators refused to answer to the FOIA, Coinbase moved to file lawsuits, alleging that "financial regulators have used multiple tools at their disposal to try to cripple the digital-asset industry."
Crypto community members have speculated that the lawsuit may help in providing clarity regarding digital assets regulations.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.
Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.